What Is The NYC Mansion Tax

The NYC Mansion Tax is a real estate transfer tax levied on the purchase of residential properties within New York City that sell for…

The current tiered system for the NYC Mansion Tax, applicable to residential purchases of $1 million or more, is as follows:

• 1.50% for purchases from $3,000,000 to $4,999,999

• 3.75% for purchases from $20,000,000 to $24,999,999

• 3.90% for purchases of $25,000,000 or greater